Inflation pressures remain subdued in the September quarter, official figures show.
Weaker dairy and electricity prices led to lower input and output costs for firms and farmers.
Statistics New Zealand says input prices - a measure of wholesale inflation - fell 1.1% in the three months to September, while output prices declined 1.4% over the same period.
The dairy product manufacturing index fell nearly 21%, the largest quarterly fall in seven years.
The dairy cattle farming index fell more than 24%, the largest decrease since records began.
Separately, the capital goods price index has fallen 0.4% in the September quarter.
